FINANCIAL_SERVICESPENDING

City of Jacksonville Neighborhoods, Community Services, Public Health and Safety Committee Agenda 2026-06-15

City Seeks To Modify JU Law School Loan Terms

Two $1,250,000 forgivable loans (total $2,500,000)City of JacksonvilleJACKSONVILLE UNIVERSITYJune 15, 2026

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Description

Jacksonville proposes a third amendment to its funding agreement with Jacksonville University, adjusting enrollment conditions for forgiveness of two $1.25 million loans supporting the JU College of Law. The new terms would require JU to show at least 175 total students before September 30, 2027, instead of a two-year enrollment average.

Contract Details

Contract Amount

Two $1,250,000 forgivable loans (total $2,500,000)

Vendor

JACKSONVILLE UNIVERSITY

Agency

City of Jacksonville, FL

Contract Type

FINANCIAL_SERVICES

Document Date

June 15, 2026

Contract Term

Loan forgiveness condition measured by 9/30/2027

Renewal Date

2027-09-30

Renewal Info

Third amendment would revise conditions for loan forgiveness, shifting from a two-year average enrollment requirement to a single overall enrollment threshold by 2027-09-30.

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Issuing Agency